Gainesville Daily Register (Gainesville, Tex.), Vol. 98, No. 230, Ed. 1 Thursday, May 26, 1988 Page: 9 of 18
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Gainesville, Tex. DAILY REGISTER Thurs., May 26,1988—9A
Noriega
Bill King
(Continued from page 1)
(Continued from page 1)
Icahn
(Continued from page 1)
SCIVALLY'S SUMMER
SIZZLERS
Blue Bell
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ALF GALLON
2
ALL VARIETIES
DR PEPPER
%
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LIMIT 4 PLEASE
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5 LB. BAG
684
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A
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Now Through Sunday
son, Tollie is currently enjoying
his retirement in this city, but
memories of his days on the
railroad are as vivid as ever.
12
oz.
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8 CT.
PKG.
2LTR.
BTL.
Blue Bell
Ice Cream
Wednesday said that he still was optimistic that Nor-
iega could be persuaded to step down.
"I’m convinced Noriega will be out of power,” Bush
told reporters in Lakehurst, N.J. “The fact that we
haven’t solved this doesn’t depress me.
“I don’t want a bad deal. I want a good deal. We’ll
have to go back and figure it out. ”
Senate Republican Leader Bob Dole of Kansas said
that he welcomed Shultz’s announcement. “Noriega
must go if we are to achieve our goals in Panama. But
We Accept
Food
Stamps
SHURFRESH HOT DOG or
HAMBURGER
PILGRIM’S PRIDE
GRADE A WHOLE
FRYER
1 /2 Gallon Carton
Limit 2 With $10.00 Purchase
SHURFRESH JUICY
ALL MEAT
FRANKS
a “totally inaccurate characterization of the nego-
tiations.”
“He at all times sought a restructuring that would
treat all stockholders equally,” Burch said. “We’ve
now proposed a $60 cash merger that does treat all
shareholders equally. ”
Of 243 Texaco shares outstanding, Icahn owns about
36 million, for which he paid an average $34 each or
about $1.22 billion. Combined with the $12.42 billion he
offered to pay for the rest, the total offer is worth about
$13.64 billion.
If completed, such an offer would be the biggest in
corporate history. The previous record was the 1984
$13.4 billion acquisition of Gulf Corp. by Standard Oil
Panamanian officials in the last few weeks, has been
scrapped.
“No further negotiations are contemplated,” Shultz
said. “All proposals addressed during these nego-
tiations have been withdrawn. No offers remain on the
table.”
For much of the day Wednesday, a deal seemed to be
within reach. But Kozak telephoned the State Depart-
ment at 4 p.m. EDT to pass along the news of Noriega’s
decision.
Under Secretary of State Michael Armacost said
Co. of California, now Chevron Corp.
Icahn said in his letter that he would drop the proxy
contest if management would allow other stockholders
to consider the offer. He gave management until 5 p.m.
Friday to think it over.
He provided few other details, but said part of his
financing plan would include the sale of Texaco Canada
Inc. and Caltex, two of Texaco’s most prized assets.
Texaco spokeswoman Anita Larsen called Icahn’s
proposal “an illusory offer which so far as Texaco has
seen, provides absolutely no details regarding finan-
cing, disappears in less than 48 hours;, and is put for-
ward as an alternative to allow him to avoid the proxy
contest with which he has been threatening the com-
pany,”
She added that the belong-
ings will be returned if the
owner will call her and prop-
erly identify them. If the items
are yours, call Ruth Goudy at
665-5339.
IT’S ALWAYS great fun to
bump into my friend, Cleveland
Captain. Our association dates
back to the time when he was
manager of amateur baseball
teams that performed at Locke
Field.
I saw Cleveland the other day
and discovered that he hasn’t
changed a bit, either in ap-
pearance or spirit. He’s a great
guy who obviously enjoys life
and the memories of the time
he was an intregal part of the
local sports scene.
Captain worked for many
years at Tyler & Simpson Com-
pany before he retired.
THIS CORNER enjoyed rec-
ent conversations with Joel
Street, Hank Lorenz, Ed Mos-
ley, Don Loudeback, Herman
Garcia, Jim Reed, Joe Gray
and Jim Element.
All of the aforementioned are
fine gentlemen, who in their
special ways have contributed
a lot to our town.
sending Noriega off into retirement with a legal golden
Noriega had indicated that “majors and captains” parachute ... would have been the wrong step at the
THE ANNUAL Nelson Grove
Cemetery Memorial Service
will be held Sat., May 28, ac-
cording to Mrs. J.R. Nelson.
“The meeting begins at 11
a.m.,” she said, “and that’ll be
followed with a covered dish
luncheon at noon. ”
Mrs. Nelson is president of
the Nelson Grove Cemetery
Association and she and her
husband feel personal ties to
the job. J.R.’s grandfather, you
see, donated the land to house
the Nelson Grove Cemetery.
His name was Robert Carroll
Nelson and a member of his
family was the first to be buried
in the cemetery. It all happened
way back yonder in the year
1885, and 103 years later folks
still remember.
Saturday’s event is to be held
at the Woodbine Community
Center building.
IF AL SARGENT is wearing
a smile these days, I’ll bet I
know the secret to his pleasure.
within Panama’s Defense Forces “might take strong wrong time.”
action” against him if he agreed to the deal. \ This was a reference to the most controversial aspect
Bush, who has expressed some misgivings at the of the administration’s proposal: dismissing federal
Reagan administration’s negotiations with Noriega, on drug smuggling indictments against Noriega.
Anaa4a
FRESH CRISP TENDER
ICEBERG
LETTUCE
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TAKE YOUR CHOICE:
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At
SCIVALLY'S
East Highway 82
I Or i
Double Coupons
At
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KRAFT ASSTD.
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#Bericc,)
L emadVa 7
“*EALF
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93
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LIMIT
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18 OZ.
BTL
Al made a hole-in-one this week
at the Gainesville Municipal
Golf Course.
Playing in a foursome with
John Preston, Ken Eddington
and Joe Eddington, Sargent
used a 4-iron on the No. 10 hole
to score his ace. Now he’s walk-
ing on air.
HOOT CARR and his wife are
still operating the Dairy Mart
in Valley View, but Carl Mon-
tgomery is no longer their boss.
A representative of Dairy
Queen approched Montgomery
about purchasing the Valley
View fast-food business, but
Clay at first refused. After
some negotiating, however, the
Valley View resident elected to
sell to the Dairy Queen people.
“My wife and I are still run-
ning the place,” Hoot said
Wednesday, “but I don’t know
for how long.” ■’
He’s hoping their positions
are as secure as they were with
Montgomery.
RUTH GOUDY sez that when
“we closed the depot Saturday
evening after Depot Days, we
found a woman’s rain coat and
a small zippered bag. ”
A,
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02)
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CNh
129
HEAD VV
*058
3$l
T WDFRE
FRANKS
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Williams, Eric. Gainesville Daily Register (Gainesville, Tex.), Vol. 98, No. 230, Ed. 1 Thursday, May 26, 1988, newspaper, May 26, 1988; (https://texashistory.unt.edu/ark:/67531/metapth1569744/m1/9/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Cooke County Library.